Public information and heuristic trade
نویسندگان
چکیده
منابع مشابه
Delegated Trade and the Pricing of Public and Private Information
We extend a standard, rational expectation model of trade to incorporate the possibility of individual investors delegating their trades to an informed financial intermediary. In the presence of delegated trade, we show that a firm׳s risk premium is a function of both the firm׳s exposure to a common risk factor and idiosyncratic characteristics of the firm׳s information environment. We show tha...
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ژورنال
عنوان ژورنال: Journal of Accounting and Economics
سال: 1999
ISSN: 0165-4101
DOI: 10.1016/s0165-4101(98)00046-9